Holder in Due Course
HOLDER IN DUE COURSE
An individual who takes acommercial paperfor value, ingood faith, with the belief that it is valid, with no knowledge of any defects.
The uniform commercial code (UCC) defines a holder in due course as one who takes an instrument for value in good faith absent any notice that it is overdue, has been dishonored, or is subject to any defense against it or claim to it by any other person.
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Due , due / d(y)oō/ • adj. 1. expected at or planned for at a certain time: the baby's due in August | he is due back soon | talks are due to adjourn tomor… course , course / kôrs/ • n. 1. [in sing.] the route or direction followed by a ship, aircraft, road, or river. ∎ the way in which something progresses or dev… Due Diligence , Due diligence is a program of critical analysis that companies undertake prior to making business decisions in such areas as corporate mergers/acquis… Commercial Paper , A written instrument or document such as a check, draft, promissory note, or a certificate of deposit, that manifests the pledge or duty of one indiv… Faith , In the United States, "faith" generally connotes two things: (1) a religious tradition, such as the "Christian faith" or the "Jewish faith," and (2)… Infidel , Infidel
In the strict sense, not including apostates from the faith and those who have lost the faith either through formal heresy or in any other wa…
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Holder in Due Course